AM vs. ET
AM (Antero Midstream Corporation) and ET (Energy Transfer LP) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, AM returned 7.42%/yr vs 12.65%/yr for ET. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
AM vs. ET - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AM having a 22.27% return and ET slightly higher at 22.86%. Over the past 10 years, AM has underperformed ET with an annualized return of 7.42%, while ET has yielded a comparatively higher 12.65% annualized return.
AM
- 1D
- 0.28%
- 1M
- -3.27%
- YTD
- 22.27%
- 6M
- 20.24%
- 1Y
- 18.26%
- 3Y*
- 33.36%
- 5Y*
- 24.91%
- 10Y*
- 7.42%
ET
- 1D
- 0.05%
- 1M
- -0.96%
- YTD
- 22.86%
- 6M
- 21.25%
- 1Y
- 17.66%
- 3Y*
- 24.39%
- 5Y*
- 21.90%
- 10Y*
- 12.65%
AM vs. ET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 22.27% | 24.37% | 28.46% | 25.73% | 21.98% | 39.55% | 27.59% | -60.29% | -22.28% | -2.32% |
ET Energy Transfer LP | 22.86% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
Correlation
The correlation between AM and ET is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2014 | 0.52 |
The correlation between AM and ET shifts across timeframes, from 0.45 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AM:
$10.17B
ET:
$67.59B
AM:
$0.85
ET:
$1.36
AM:
24.92
ET:
14.36
AM:
8.09
ET:
0.78
AM:
5.25
ET:
1.36
AM:
$1.26B
ET:
$89.38B
AM:
$620.66M
ET:
$20.48B
AM:
$955.64M
ET:
$13.02B
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Return for Risk
AM vs. ET — Risk / Return Rank
AM
ET
AM vs. ET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Antero Midstream Corporation (AM) and Energy Transfer LP (ET). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AM | ET | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 1.09 | -0.21 |
Sortino ratioReturn per unit of downside risk | 1.36 | 1.69 | -0.33 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.19 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.77 | -0.32 |
Martin ratioReturn relative to average drawdown | 3.03 | 3.90 | -0.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AM | ET | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 1.09 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 0.89 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.36 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.36 | -0.22 |
Drawdowns
AM vs. ET - Drawdown Comparison
The maximum AM drawdown since its inception was -93.01%, which is greater than ET's maximum drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for AM and ET.
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Drawdown Indicators
| AM | ET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.01% | -87.81% | -5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -12.67% | -10.02% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -13.98% | -24.56% | +10.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.91% | -25.82% | +3.91% |
Max Drawdown (10Y)Largest decline over 10 years | -93.01% | -72.82% | -20.19% |
Current DrawdownCurrent decline from peak | -8.94% | -4.12% | -4.82% |
Average DrawdownAverage peak-to-trough decline | -31.45% | -25.75% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.05% | 4.55% | +1.50% |
Volatility
AM vs. ET - Volatility Comparison
Antero Midstream Corporation (AM) has a higher volatility of 6.38% compared to Energy Transfer LP (ET) at 5.97%. This indicates that AM's price experiences larger fluctuations and is considered to be riskier than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AM | ET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.38% | 5.97% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 11.89% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.89% | 16.42% | +4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.60% | 24.90% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.01% | 35.04% | +6.97% |
Dividends
AM vs. ET - Dividend Comparison
AM's dividend yield for the trailing twelve months is around 4.23%, less than ET's 6.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AM Antero Midstream Corporation | 4.23% | 5.06% | 5.96% | 7.18% | 8.34% | 10.15% | 15.95% | 18.28% | 7.53% | 4.27% | 3.14% | 2.93% |
ET Energy Transfer LP | 6.83% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
Financials
AM vs. ET - Financials Comparison
This section allows you to compare key financial metrics between Antero Midstream Corporation and Energy Transfer LP. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AM vs. ET - Profitability Comparison
AM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a gross profit of 0.00 and revenue of 314.21M. Therefore, the gross margin over that period was 0.0%.
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a gross profit of 6.62B and revenue of 27.77B. Therefore, the gross margin over that period was 23.9%.
AM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported an operating income of 188.61M and revenue of 314.21M, resulting in an operating margin of 60.0%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported an operating income of 2.98B and revenue of 27.77B, resulting in an operating margin of 10.7%.
AM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a net income of 118.27M and revenue of 314.21M, resulting in a net margin of 37.6%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a net income of 1.25B and revenue of 27.77B, resulting in a net margin of 4.5%.
Frequently Asked Questions
AM and ET have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AM has higher volatility (6.38%) compared to ET (5.97%). In terms of maximum drawdown, AM dropped -93.01% vs ET's -87.81%.
ET currently has the higher Sharpe Ratio (1.09 vs 0.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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